Way2Wealth signs definitive agreement with Techno Shares & Stocks

The strategic partnership will assist Way2Wealth in synergizing their capabilities, wide product offering and Techno’s presence in serving the Indian markets better

Way2Wealth, the wealth management and financial services arm of Coffee Day Co, has signed definitive agreement with Techno Shares & Stocks Ltd (Techno), a midsize securities broking firm with predominantly western India presence. This strategic partnership will assist Way2Wealth in synergizing their capabilities, wide product offering and Techno's presence in serving the Indian markets better.

Equirus Capital acted as the exclusive financial advisor to Way2Wealth for the transaction

"Techno's team has long standing experience in the securities industry and this partnership will deepen our reach, strengthen our presence in the western region and help us building a robust and diversified securities brokerage business," said MR Shashibhushan, CEO, Way2Wealth

"Our association with Way2Wealth will provide a stronger platform to Techno clientele with a wider product portfolio, larger brand and institutional parentage. The stronger platform will benefit all our stakeholders including our clients, partners (franchisees, sub-brokers) and our employees," Jaydeep Mehta, CEO, Techno said.

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Glenmark Pharma signs licensing deal with Canadian company

Glenmark Pharmaceuticals has signed licensing deal with Immanence-IDC to distribute the latter’s anti-aging cosmeceutical range of products in eight countries

Glenmark Pharmaceuticals has signed an exclusive licensing deal with Canada-based Immanence-IDC to distribute the latter's anti-aging cosmeceutical range of products in eight countries.

The company's 10-year licensing agreement with Immanence-IDC will span eight countries, including India, Brazil, Mexico, South Africa, Egypt, Vietnam, Malaysia and Thailand.

"This association marks a new beginning for us in one of the fastest growing segments in dermatology," the Glenmark Pharmaceuticals COO, Arvind Vasudeva, said in a statement.

He said the association would enable the firm to consolidate its leadership position in dermatology across these markets.

"This 10-year agreement with Glenmark will open new markets for us and through a network of more than 1.5 lakh dermatologists, it will allow us to reach more than 1.5 billion people," the Immanence-IDC board chairman, Eric Dupont, said.

Commenting on the tie-up, the Immanence-IDC president and CEO, Luc Dupont, said with the agreement with Glenmark, the company's products would be available in over 12 countries. "Our goal is to establish a presence in over 25 countries over the next two years," he added.

On Thursday, Glenmark Pharma ended 0.36% up at Rs304.10 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.11% to 19,591.18.

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Unichem gets USFDA approval for anti-seizure drug

Unichem Laboratories has received approval from the US health regulator to market Divalproex Sodium Delayed Release tablets in the US market

Unichem Laboratories said it has received approval from the US health regulator to market Divalproex Sodium Delayed Release tablets, used for seizure disorders, in the US market.

The company has got the US Food and Drug Administration (USFDA) for Divalproex Sodium Delayed Release tablets in strengths of 125mg, 250mg and 500mg, Unichem Laboratories said in a filing to the Bombay Stock Exchange (BSE).

The company already has nine drugs in the US that have been approved by the USFDA, it added.

On Thursday, Unichem ended 4.61% up at Rs204.05 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.11% to 19,591.18.

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